Unlike CD, SND and SB account, Branch shall accept deposit of fixed amount of money from the customers for a fixed period of time with interest under the term plan time to time. Priority Deposit Scheme is neither Transferable nor Negotiable and as such payment against this instrument with interest shall normally be made to the depositor on maturity. Payment against PDS can also be made to nominee or assignee after observing essential formalities.
1. Any Bangladeshi National (Adult, sound-minded having bonafide income) and institutions/organizations incorporated and operating in Bangladesh who are not adjudicated as insolvent by any Court of Law of the land can open this Account for fixed tenure with any amount but not less than BDT 5.00 Lakh.
2. Fixed Deposit Account can be opened in the name of
Two copies of recent passport size Photographs of account holder duly attested by the Introducer.
One copy of Passport Size Photograph of Nominee duly attested by the Account Holder.
Duly attested photocopy of valid Passport/Employer’s Certificate/ID Card/Driving Licence/Voter ID Card/National ID Card or Certificate about credentials by the local Ward Commissioner/Chairman of Union Parishad
Proof of address such as copy of utility bill viz. Electricity Bill/Land Phone bill/Cell Phone Bill/Gas Bill/WASA Bill, etc. in the name of applicants.
Customer will get principal/renewed amount with benefit calculated based on the rate mentioned in above table.
Encashment before maturity:
Before three months: Principal/renewed amount will be given back. Interest/benefit will not be allowed.
On or after three months: Principal/renewed amount plus benefit for completed month(s) only at the lowest prevailing rate of savings account.
Encashment after maturity:
For the period up to the date of death of scheme holder: Ledger balance (calculated based on scheme rate) will be given to the nominee(s) or legal successor(s) after deduction of government dues.
For the remaining period: Benefit will be given for the completed month(s) on ledger balance at the date of the death of scheme holder at the lowest prevailing interest rate of savings account to the nominee(s) or legal successor(s) after deduction of government dues.